The battering to Wall Street banks from Archegos Capital Management topped $10 billion after Switzerland’s UBS and Japan’s Nomura reported fresh hits caused by the fund’s collapse.13
Under the new privacy restrictions, advertisers targeting iPhone users will get more data about ad performance if they buy Apple’s ad space than if they buy through third parties, according to ad-industry executives.38
WSJ News Exclusive
China’s central government is investigating how Jack Ma won speedy approvals for his Ant Group’s stock listing last year, signaling that state actors are getting embroiled in the crackdown on the tech billionaire.
General Electric’s jet-engine business and divestitures weighed on its latest financial results as the company reported lower revenue and a first-quarter loss.
WSJ/Realtor.com Index
Picturesque Coeur d’Alene, Idaho, tops the list of the country’s hottest emerging housing markets, according to a new ranking from The Wall Street Journal and Realtor.com.234
Google’s parent company is expected to shatter sales records with its largest-ever increase in quarterly revenue, fueled by a surge in digital ad spending.
The Small Business Administration will begin accepting applications May 3 for a $29 billion grant program aimed at boosting the restaurant industry, according to the agency.8
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United Parcel Service said its revenue rose in the latest quarter, a period that saw mounting supply-chain woes world-wide, as small and midsize businesses drove gains in the U.S.
HSBC said quarterly net profit more than doubled, as a nascent economic recovery allowed it to free up funds previously set aside to offset potential pandemic-related losses.
BP said it would boost returns to shareholders after higher oil prices and strong trading results buoyed its first-quarter earnings, the strongest sign yet that a recovery is under way in one of the industries worst hit by the pandemic.
DoorDash is changing the way it charges restaurants to deliver their food, marking a shift in a business model that has met with increasing pushback over fees as the company positions itself for a post-pandemic world.
Heard on the Street
The Fed’s three-month currency swaps to other central banks will cease in July. They cost nothing, prevented an emerging crisis and may have left markets healthier in the aftermath.
Property Report
Vaccinated shoppers are heading back to the mall, offering hope that the worst of the pandemic downturn is over for this beleaguered industry.8
A number of luxury or boutique U.S. hotel operators are planning to open new U.K. properties this summer, betting that a mix of cultural tourists from abroad and stir-crazy locals eager to travel again will fill their rooms.
Economic impacts of the pandemic, social unrest and U.S.-China tensions are putting downward pressure on prices. “It’s survival of the fittest.”
U.S.
Get the latest tally on the number of shots given and doses distributed around the world and across the U.S., state by state.
World
U.S. troops who fought in conflicts decades apart see their country leaving behind wars unfinished and allies to face the consequences. “I say we accomplished nothing.”389
Zambia, which defaulted on payments to bondholders in November, is doubling down on debt with a high-stakes bet that nationalizing one of its biggest copper mines will help rescue its flailing economy.
Life & Arts
Andy Ruiz Jr. was one of the most unlikely champions in history. After losing the belts, he realized he needed to lose weight to save his boxing career.11
Called chimeras, these lab-grown creations have been hailed as a major scientific breakthrough. But some ethics experts see reason for worry.273
Jason Gay
A viral internet joke becomes a real-life, good-natured “battle” for a lot of people with the same first name. Behind the scenes of the “JoshFight.”114
The “Nomadland” actress was the only star to highlight the plight of movie theaters at an award ceremony meant to celebrate art for the big screen.108
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